Short Interest in PureCycle Technologies, Inc. (NASDAQ:PCTTW) Drops By 22.9%
by Doug Wharley · The Cerbat GemPureCycle Technologies, Inc. (NASDAQ:PCTTW – Get Free Report) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 1,961 shares, a drop of 22.9% from the December 31st total of 2,544 shares. Based on an average trading volume of 14,356 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 14,356 shares, the days-to-cover ratio is currently 0.1 days.
PureCycle Technologies Trading Down 4.8%
PCTTW stock traded down $0.04 during mid-day trading on Monday, hitting $0.75. 10,665 shares of the company were exchanged, compared to its average volume of 19,863. PureCycle Technologies has a 12-month low of $0.53 and a 12-month high of $6.16. The business has a fifty day simple moving average of $1.15 and a 200-day simple moving average of $2.78.
About PureCycle Technologies
PureCycle Technologies, Inc is a sustainable materials company that develops and licenses patented recycling technology designed to restore post‐consumer polypropylene waste to virgin‐like quality. The company’s core business activity centers on an innovative solvent‐based purification process, which removes contaminants and impurities from recycled polypropylene feedstock. This approach yields a product known as PureCycle Resin, a recycled polymer suitable for use in food‐grade packaging, consumer goods, automotive components, and other applications that traditionally rely on virgin plastics.
PureCycle offers both proprietary technology licensing and finished‐resin sales.